1 00:00:00,440 --> 00:00:04,320 Speaker 1: Welcome to Fear and Greed Sunday feature Michael Thompson. Today's 2 00:00:04,320 --> 00:00:06,720 Speaker 1: interview is with the founder of an Australian company, and 3 00:00:06,760 --> 00:00:08,799 Speaker 1: it's a company that's actually quite close to Fear and 4 00:00:08,840 --> 00:00:11,600 Speaker 1: Greed's heart because we still use some of their products. 5 00:00:12,080 --> 00:00:15,800 Speaker 1: Road is an audio company producing, among other things, microphones 6 00:00:15,840 --> 00:00:17,799 Speaker 1: and a product called the Roadcasts, or an all in 7 00:00:17,840 --> 00:00:21,360 Speaker 1: one mixing desk. The business itself has been around for 8 00:00:21,400 --> 00:00:24,520 Speaker 1: a long time, but as podcasts have taken off, so 9 00:00:24,880 --> 00:00:29,080 Speaker 1: has Road to become an international success. It is owned 10 00:00:29,120 --> 00:00:31,840 Speaker 1: by Peter Friedman and believed to be worth around one 11 00:00:31,880 --> 00:00:34,840 Speaker 1: and a half billion dollars now. Peter spoke to Sean 12 00:00:34,880 --> 00:00:38,600 Speaker 1: Aylmore back in February of twenty twenty one. Now keep 13 00:00:38,600 --> 00:00:40,879 Speaker 1: in mind this is when every second person in the 14 00:00:40,920 --> 00:00:43,960 Speaker 1: world was starting their own podcast, including us, and nearly 15 00:00:44,000 --> 00:00:47,239 Speaker 1: every one of those was using so it seemed a 16 00:00:47,320 --> 00:00:47,800 Speaker 1: road mic. 17 00:00:48,040 --> 00:00:55,160 Speaker 2: I hope you enjoy it, of course, I'd say this, 18 00:00:55,280 --> 00:00:59,000 Speaker 2: but audio is booming right now. Podcasts have exploded in 19 00:00:59,000 --> 00:01:02,120 Speaker 2: popularity and more people are setting up home studios to 20 00:01:02,160 --> 00:01:05,440 Speaker 2: record their music, news and stories. Even the quality of 21 00:01:05,520 --> 00:01:08,520 Speaker 2: the sound in our video calls has improved dramatically. An 22 00:01:08,560 --> 00:01:11,080 Speaker 2: Australian company has been at the forefront of it all, 23 00:01:11,240 --> 00:01:15,720 Speaker 2: setting a standard for audio globally. Road microphones are everywhere 24 00:01:15,720 --> 00:01:18,480 Speaker 2: at the moment. In fact, the microphone I'm using right 25 00:01:18,520 --> 00:01:21,399 Speaker 2: now is a road microphone and the best part is 26 00:01:21,720 --> 00:01:24,920 Speaker 2: they've manufactured right here in Australia. Peter Friedman is the 27 00:01:24,959 --> 00:01:27,759 Speaker 2: founder of Road Microphones and is my guest today. Peter, 28 00:01:28,000 --> 00:01:30,640 Speaker 2: welcome to Fear and Green. Thank you very much. I'm 29 00:01:30,640 --> 00:01:32,800 Speaker 2: really happy to be with you. Take me through the 30 00:01:32,920 --> 00:01:36,319 Speaker 2: road story. Your father started Freedman Electronics as a shop 31 00:01:36,319 --> 00:01:38,880 Speaker 2: front more than fifty years ago. What's happened since then? 32 00:01:39,120 --> 00:01:41,840 Speaker 3: Yeah, that's right now. Mum and dad, Well, we all 33 00:01:41,880 --> 00:01:44,880 Speaker 3: came out from Sweden. I was born in Stockholm. Then 34 00:01:44,920 --> 00:01:48,000 Speaker 3: we came here in sixty six. Mum and dad had 35 00:01:48,000 --> 00:01:50,520 Speaker 3: the thought of starting a sound company and it was 36 00:01:50,520 --> 00:01:54,360 Speaker 3: the first pro sound company Australia in Ashfield and Sydney. 37 00:01:54,680 --> 00:01:57,280 Speaker 3: They had the agency for a brand called Dinocord, which 38 00:01:57,320 --> 00:02:01,120 Speaker 3: was the absolute top live performance. So yeah, and I 39 00:02:01,120 --> 00:02:03,760 Speaker 3: remember all that. That was nine to sixty seven. They 40 00:02:03,840 --> 00:02:06,440 Speaker 3: kicked off the shop. They were Friedman Electronics. 41 00:02:06,640 --> 00:02:09,560 Speaker 2: It's been an incredible journey since that. Time. It's been 42 00:02:09,600 --> 00:02:11,880 Speaker 2: said that we're in a golden age of audio as 43 00:02:11,919 --> 00:02:15,480 Speaker 2: podcast takeoff, musicians can do more recording at home, and 44 00:02:15,520 --> 00:02:17,800 Speaker 2: even radio audiences are booming. Yeah. 45 00:02:17,960 --> 00:02:21,200 Speaker 3: I mean it's a fantastic time to be involved in 46 00:02:21,240 --> 00:02:25,720 Speaker 3: any kind of media, whether it's you know, music, podcasting, 47 00:02:26,320 --> 00:02:29,680 Speaker 3: a video for you know, your own film, everything, and students, 48 00:02:30,240 --> 00:02:33,440 Speaker 3: even very very young kids now learning how to edit. 49 00:02:33,960 --> 00:02:36,519 Speaker 3: Nobel Green Screen is you know, even six year old 50 00:02:36,520 --> 00:02:40,160 Speaker 3: are doing and podcasts. You know the CEO here his 51 00:02:40,320 --> 00:02:43,960 Speaker 3: daughter she does podcasting and she's ten eleven years old. 52 00:02:44,360 --> 00:02:47,000 Speaker 3: This is fantastic. I love it. Not nothing about business. 53 00:02:47,080 --> 00:02:51,040 Speaker 3: I just enjoy seeing people being able to interact with this. 54 00:02:51,280 --> 00:02:54,760 Speaker 3: It's a fantastic thing because it's it's my life wonderful. 55 00:02:55,160 --> 00:02:57,000 Speaker 2: If you go back from the late sixties in the 56 00:02:57,000 --> 00:02:59,880 Speaker 2: Freedoman electronics store, it's clear you've got a passion for 57 00:02:59,880 --> 00:03:03,760 Speaker 2: the business. What made you move into microphone design and 58 00:03:03,800 --> 00:03:05,000 Speaker 2: manufacture yourself? 59 00:03:05,480 --> 00:03:08,680 Speaker 3: That came from getting into financial difficulty. I sort of 60 00:03:08,720 --> 00:03:11,919 Speaker 3: worked with my father very early on, and you know, 61 00:03:11,960 --> 00:03:13,920 Speaker 3: I used to leave school and come to the shop 62 00:03:13,960 --> 00:03:17,480 Speaker 3: there in Summer Hill as a very young child. And 63 00:03:17,520 --> 00:03:20,359 Speaker 3: then my dad said they got sick at nineteen sixty nine, 64 00:03:20,400 --> 00:03:23,160 Speaker 3: he started getting heart problems and gina that kind of thing, 65 00:03:23,240 --> 00:03:25,959 Speaker 3: so he was always either in hospital or having problems, 66 00:03:26,000 --> 00:03:28,640 Speaker 3: and I had to step up, which at the time, 67 00:03:28,840 --> 00:03:30,320 Speaker 3: you know, you don't think about it. You just do it. 68 00:03:30,320 --> 00:03:32,800 Speaker 3: As I've said many times, as if you're in a 69 00:03:32,840 --> 00:03:35,960 Speaker 3: milk bar situation and somebody calls shop and you run 70 00:03:36,000 --> 00:03:37,720 Speaker 3: out there and you serve them. So, yeah, I was 71 00:03:37,760 --> 00:03:41,320 Speaker 3: doing a lot even as a teenager. Years went by, 72 00:03:41,360 --> 00:03:43,280 Speaker 3: I was doing more and more, and I left school 73 00:03:43,400 --> 00:03:47,000 Speaker 3: around sixteen and took over. Dad was still there holding 74 00:03:47,040 --> 00:03:49,400 Speaker 3: me back, which was good because I was a nut 75 00:03:49,480 --> 00:03:51,760 Speaker 3: and I would have done some really stupid things that 76 00:03:52,000 --> 00:03:55,160 Speaker 3: waited until later. He passed away in eighty seven. I 77 00:03:55,240 --> 00:03:59,160 Speaker 3: was twenty nine, and everybody who knows the eight late 78 00:03:59,200 --> 00:04:03,440 Speaker 3: eighties remember remembers how terrible financial situation got at the end, 79 00:04:03,840 --> 00:04:06,120 Speaker 3: and I ended up with about four or five hundred 80 00:04:06,120 --> 00:04:10,160 Speaker 3: thousand debt and with penalties of twenty two percent interest. 81 00:04:10,200 --> 00:04:12,720 Speaker 3: You know, yeah, you're not going to get out of that. 82 00:04:12,920 --> 00:04:16,080 Speaker 3: So I didn't go bankrupt, but I lost everything and 83 00:04:16,360 --> 00:04:19,800 Speaker 3: moved from my father's shop to a place in Ridlemere, 84 00:04:20,320 --> 00:04:22,640 Speaker 3: and yeah, I was beyond depressed. I got to tell 85 00:04:22,680 --> 00:04:26,800 Speaker 3: you because finished I'd smashed my family's company into the war. 86 00:04:27,600 --> 00:04:29,680 Speaker 3: It was very terrible. So it was basically just looking 87 00:04:29,720 --> 00:04:32,960 Speaker 3: for anything as well. I had this sampled microphone from 88 00:04:33,000 --> 00:04:35,760 Speaker 3: China I had bought in eighty one and it was 89 00:04:35,760 --> 00:04:38,440 Speaker 3: like just a copy of a cheap copy of Annoyment, 90 00:04:38,560 --> 00:04:41,160 Speaker 3: one inch capsule thing, noisy as nitthing. It cost me 91 00:04:41,200 --> 00:04:43,520 Speaker 3: about eight bucks, I think at the time, and I 92 00:04:43,640 --> 00:04:46,120 Speaker 3: just that's not live performance, has nothing to do with me. 93 00:04:46,480 --> 00:04:47,200 Speaker 2: But I kept it. 94 00:04:47,440 --> 00:04:49,080 Speaker 3: I managed to There's a friend of mine in the 95 00:04:49,160 --> 00:04:52,960 Speaker 3: UK certainly passed away now, Colin Hill, very very good salesman. 96 00:04:53,200 --> 00:04:55,280 Speaker 3: He came to Australia around that time. Just we had 97 00:04:55,279 --> 00:04:57,680 Speaker 3: a drink and he's saying, oh, I'd love to live here, 98 00:04:57,680 --> 00:04:59,560 Speaker 3: and I always wanted to live and I thought, yeah, 99 00:04:59,560 --> 00:05:01,359 Speaker 3: I need some like you. So I offered him a 100 00:05:01,440 --> 00:05:04,320 Speaker 3: job and about six weeks later he was in Sydney. 101 00:05:04,480 --> 00:05:06,920 Speaker 3: And that was perfect for me because I could focus 102 00:05:06,960 --> 00:05:10,120 Speaker 3: on the tech and he loved getting out talking to people. 103 00:05:10,560 --> 00:05:12,159 Speaker 3: I gave him this mic and I said, see if 104 00:05:12,200 --> 00:05:14,120 Speaker 3: we can sell them, because I can get them. And 105 00:05:14,160 --> 00:05:15,840 Speaker 3: he comes back after a couple of days on the 106 00:05:15,920 --> 00:05:18,160 Speaker 3: raid and says, well, there's a lot of interest in this. 107 00:05:18,800 --> 00:05:22,599 Speaker 3: And this was at the beginning of the home recording revolution, 108 00:05:22,960 --> 00:05:26,560 Speaker 3: which was digital. Before that, it was cheap tape or 109 00:05:26,680 --> 00:05:29,359 Speaker 3: like Portadat's tape, or if you're lucky, at a half 110 00:05:29,360 --> 00:05:32,560 Speaker 3: inch a track or four track rather. But now you 111 00:05:32,560 --> 00:05:35,479 Speaker 3: could do an aid at, which was that on VHS tape, 112 00:05:35,560 --> 00:05:38,279 Speaker 3: digital recording, and what do they need? They need good 113 00:05:38,320 --> 00:05:41,799 Speaker 3: mics and it's either a five grand Noyman or nothing. 114 00:05:42,520 --> 00:05:46,320 Speaker 3: And I modified these things. They sounded all right, and 115 00:05:46,360 --> 00:05:48,440 Speaker 3: I could sell them retail for five hundred bucks. 116 00:05:48,480 --> 00:05:49,839 Speaker 2: Now that's a good market. 117 00:05:49,960 --> 00:05:53,160 Speaker 3: Yeah, well it's not that. The biggest money is made 118 00:05:53,160 --> 00:05:55,520 Speaker 3: by the dealer, by the way, not by us, you know. 119 00:05:55,640 --> 00:05:57,960 Speaker 3: So you know, after we brought him in, and of 120 00:05:57,960 --> 00:06:01,400 Speaker 3: course we've done the packaging and we've modified the boards 121 00:06:01,600 --> 00:06:03,920 Speaker 3: to do all that. We made our good margin. But 122 00:06:03,960 --> 00:06:07,160 Speaker 3: the stores and the distributors internationally, they're the ones who 123 00:06:07,200 --> 00:06:09,560 Speaker 3: make the march, which is that's the way it should be. 124 00:06:09,600 --> 00:06:10,560 Speaker 3: They're working hard at it. 125 00:06:10,920 --> 00:06:14,440 Speaker 2: That's an incredible story to that point. How did you 126 00:06:14,480 --> 00:06:18,720 Speaker 2: go from that early imported and modified microphone to developing 127 00:06:18,760 --> 00:06:19,160 Speaker 2: your own? 128 00:06:19,440 --> 00:06:22,279 Speaker 3: You know, it's like the old thirty years of overnight success. 129 00:06:22,320 --> 00:06:25,920 Speaker 3: So it's just slogging away at it and still in trouble, 130 00:06:25,920 --> 00:06:29,840 Speaker 3: but selling ten twenty thirty. I've got photos of us, 131 00:06:29,920 --> 00:06:32,960 Speaker 3: you know, checking my group of ten mics and packing them. 132 00:06:33,440 --> 00:06:36,280 Speaker 3: But the real break came when I went to the States. 133 00:06:36,480 --> 00:06:38,799 Speaker 3: I was still in huge trouble, you know, I'd lost 134 00:06:38,800 --> 00:06:41,520 Speaker 3: my house with two little kids. Got a ticket to 135 00:06:41,720 --> 00:06:44,640 Speaker 3: La so go to the music show there in Anaheim 136 00:06:44,839 --> 00:06:47,480 Speaker 3: and New Disneyland, and I did it all on a 137 00:06:47,520 --> 00:06:50,320 Speaker 3: credit card. And this one was if I don't sell anything, 138 00:06:50,520 --> 00:06:52,599 Speaker 3: I can't get home. It was that kind of tough 139 00:06:53,200 --> 00:06:55,799 Speaker 3: walking the streets because I couldn't really afford a randal 140 00:06:55,839 --> 00:07:00,200 Speaker 3: car knocked back a lot, which is really good for you, 141 00:07:00,200 --> 00:07:03,279 Speaker 3: you know, your resilience, I suppose. But Westerlah Music was 142 00:07:03,320 --> 00:07:05,920 Speaker 3: the name of the store who had been around forever, 143 00:07:06,600 --> 00:07:08,960 Speaker 3: and it was a guy called Mark Spewack. It sadly 144 00:07:08,960 --> 00:07:11,679 Speaker 3: he's passed away as well, but I gave him the pitch. 145 00:07:11,920 --> 00:07:13,720 Speaker 3: I was there for a long time. At the end 146 00:07:13,760 --> 00:07:16,400 Speaker 3: he said I was plug it in, and I plugged 147 00:07:16,400 --> 00:07:18,640 Speaker 3: it in and it didn't work. It was broken. The 148 00:07:18,640 --> 00:07:20,680 Speaker 3: blood runs out of my face and they go that's 149 00:07:20,720 --> 00:07:22,760 Speaker 3: the end of that, after all the costs and all 150 00:07:23,000 --> 00:07:25,840 Speaker 3: you know, pitching, etc. But he said, oh look man, 151 00:07:25,880 --> 00:07:27,800 Speaker 3: I can tell you know this is real. This is 152 00:07:27,840 --> 00:07:30,040 Speaker 3: going to be good. The pitch is right. We know 153 00:07:30,080 --> 00:07:32,240 Speaker 3: it's just an unlucky thing. And they ordered a hundred 154 00:07:32,240 --> 00:07:34,640 Speaker 3: off me. You know, I was crying. Bactually it was 155 00:07:35,000 --> 00:07:38,160 Speaker 3: even one of the sales guys, Noel Gould, who's now 156 00:07:38,160 --> 00:07:40,760 Speaker 3: a politician, I believe over there, bought the first one. 157 00:07:40,800 --> 00:07:42,760 Speaker 3: I kept one of the one of the dollars from 158 00:07:42,760 --> 00:07:43,360 Speaker 3: that sale. 159 00:07:43,520 --> 00:07:44,320 Speaker 2: But yeah, we were off. 160 00:07:44,320 --> 00:07:46,440 Speaker 3: I couldn't supply a hundred because I didn't have them, 161 00:07:46,880 --> 00:07:49,000 Speaker 3: and they wanted to pay me with a US check, 162 00:07:49,040 --> 00:07:51,000 Speaker 3: which was even funnier because I'm not going to bed 163 00:07:51,000 --> 00:07:54,200 Speaker 3: a bank that. But I knew I had something because 164 00:07:54,680 --> 00:07:57,800 Speaker 3: in the States has always been you can't supply them anything. 165 00:07:57,800 --> 00:08:00,920 Speaker 3: They sell product with profit lower than you can buy 166 00:08:00,960 --> 00:08:04,320 Speaker 3: the parts normally, So to be able to have something 167 00:08:04,560 --> 00:08:07,400 Speaker 3: but they want, you've got something, I just knew it. 168 00:08:07,640 --> 00:08:10,000 Speaker 2: That's a great story, and I get the sense there's 169 00:08:10,040 --> 00:08:12,720 Speaker 2: a lot more to tell. Stay with me, Peter, we'll 170 00:08:12,720 --> 00:08:20,400 Speaker 2: be right back. I'm talking to Peter Friedman, the founder 171 00:08:20,440 --> 00:08:23,360 Speaker 2: of Road microphones. Looking to where we are now and 172 00:08:23,400 --> 00:08:25,800 Speaker 2: the year we've just come through, just how big was 173 00:08:25,840 --> 00:08:27,840 Speaker 2: twenty twenty for the road business. 174 00:08:28,160 --> 00:08:31,200 Speaker 3: Yeah, I mean sometimes I feel embarrassed to say it 175 00:08:31,280 --> 00:08:34,520 Speaker 3: because people are doing it. Real tough, but monstrous. It 176 00:08:34,600 --> 00:08:37,600 Speaker 3: was incredible growth. Although I've got to say to you, 177 00:08:38,000 --> 00:08:40,360 Speaker 3: twenty years ago, you know, we'd up and downs and 178 00:08:40,360 --> 00:08:43,720 Speaker 3: people saying, oh, well, there's seasonal things in any business, 179 00:08:43,760 --> 00:08:46,040 Speaker 3: and you've got to have it so you've prepared that 180 00:08:46,080 --> 00:08:47,520 Speaker 3: it's going to be down for a while and it 181 00:08:47,559 --> 00:08:50,440 Speaker 3: comes back up again, and you know, I got really 182 00:08:50,480 --> 00:08:52,600 Speaker 3: tough in you and go, no, I'm not interested in that. 183 00:08:52,600 --> 00:08:54,719 Speaker 3: We're not having a bad month. We're going to do 184 00:08:54,800 --> 00:08:58,440 Speaker 3: whatever it takes. So we make budget every month and 185 00:08:58,480 --> 00:09:00,520 Speaker 3: you know what, I haven't had a bad month since 186 00:09:00,920 --> 00:09:03,880 Speaker 3: you make it happen. And so we keep growing. We've 187 00:09:03,880 --> 00:09:08,000 Speaker 3: been on this up with trajectory. Certainly the last year 188 00:09:08,480 --> 00:09:11,959 Speaker 3: was up mind blowing because of podcasting. You know, we've 189 00:09:11,960 --> 00:09:16,120 Speaker 3: got the number one podcasting console in the world, the 190 00:09:16,200 --> 00:09:19,120 Speaker 3: road Caster pros, hundreds and hundreds of thousands of them, 191 00:09:19,320 --> 00:09:21,880 Speaker 3: and so what did people do during twenty twenty. I thought, well, 192 00:09:22,040 --> 00:09:23,800 Speaker 3: I'm getting the podcasting we did. 193 00:09:24,080 --> 00:09:24,839 Speaker 2: We were one of them. 194 00:09:24,960 --> 00:09:28,800 Speaker 3: Yeah, exactly, and that's worldwide. It's the number one, and 195 00:09:28,840 --> 00:09:31,200 Speaker 3: it's more and more and more, and the mics and 196 00:09:31,240 --> 00:09:34,120 Speaker 3: all those sorts of gear. So that was spectacular and 197 00:09:34,160 --> 00:09:36,840 Speaker 3: that's you know, it's pushed the growth of podcasting actually, 198 00:09:37,240 --> 00:09:39,280 Speaker 3: which is I'm very proud of. And you know that 199 00:09:39,360 --> 00:09:41,680 Speaker 3: product came up with it because people are asking me 200 00:09:41,840 --> 00:09:44,640 Speaker 3: what do I need to do a podcast? I'm thinking, oh, 201 00:09:44,760 --> 00:09:46,280 Speaker 3: do you need to mix it? And you need to 202 00:09:46,520 --> 00:09:49,400 Speaker 3: compress a leminar and your Bluetooth device and you need that. 203 00:09:49,760 --> 00:09:51,160 Speaker 3: You know you're not going to be able to run 204 00:09:51,200 --> 00:09:53,840 Speaker 3: it for a start, and that's about twenty grand. So 205 00:09:53,920 --> 00:09:56,520 Speaker 3: I thought, well, here's an opportunity. And that's how we 206 00:09:56,559 --> 00:09:58,719 Speaker 3: do everything. You know, we may gear that we want 207 00:09:58,760 --> 00:10:01,520 Speaker 3: to buy it too. Wait makes it pretty simple. 208 00:10:01,960 --> 00:10:02,120 Speaker 2: Now. 209 00:10:02,120 --> 00:10:06,520 Speaker 3: We put untold millions into this development and continue to 210 00:10:06,520 --> 00:10:09,640 Speaker 3: do so. So if you weren't selling hundreds of thousands, 211 00:10:09,679 --> 00:10:12,080 Speaker 3: well they would be very expensive piece of audio gear. 212 00:10:12,559 --> 00:10:15,439 Speaker 3: That's the beauty of mass production, isn't it. If you 213 00:10:15,559 --> 00:10:17,600 Speaker 3: try to make one iPhone, it would be the size 214 00:10:17,640 --> 00:10:20,840 Speaker 3: of a house and cost one hundred million dollars. I mean, 215 00:10:21,160 --> 00:10:24,120 Speaker 3: forget it and they're still expensive. But along with that, 216 00:10:24,200 --> 00:10:27,319 Speaker 3: of course, we also the people who do film now video. 217 00:10:27,720 --> 00:10:29,600 Speaker 3: There's a lot of that going on, you know, even 218 00:10:29,679 --> 00:10:31,760 Speaker 3: the ones that limited being able to go outside, well 219 00:10:31,760 --> 00:10:35,520 Speaker 3: they were doing that. We've got the world's largest film 220 00:10:35,559 --> 00:10:38,720 Speaker 3: comp of course to drive that and help people as well. 221 00:10:39,000 --> 00:10:42,440 Speaker 3: So across the board it's been great, very very good. 222 00:10:42,840 --> 00:10:45,720 Speaker 2: How important is it to you that road microphones are 223 00:10:45,720 --> 00:10:46,720 Speaker 2: manufactured locally. 224 00:10:47,360 --> 00:10:49,720 Speaker 3: I'm very very proud of it because people kept on 225 00:10:49,800 --> 00:10:53,040 Speaker 3: telling me that you can't make anything here. So we've 226 00:10:53,040 --> 00:10:57,040 Speaker 3: certainly proved that wrong one hundred times over. And with 227 00:10:57,280 --> 00:11:02,240 Speaker 3: machine we've got a mass who' plating and analyzing and 228 00:11:02,559 --> 00:11:06,240 Speaker 3: a line. We've spent about eighteen million on it. It's 229 00:11:06,280 --> 00:11:08,640 Speaker 3: yet to come online, but it's going to. And I've 230 00:11:08,640 --> 00:11:10,520 Speaker 3: been told for the last twenty years you can't do 231 00:11:10,600 --> 00:11:13,200 Speaker 3: that in Australia either. So it's kind of like a 232 00:11:13,240 --> 00:11:15,080 Speaker 3: red rag to a ball. If you say that to me, 233 00:11:15,160 --> 00:11:17,600 Speaker 3: I'm going to prove you wrong. You can do anything. 234 00:11:17,960 --> 00:11:21,240 Speaker 3: But you know it doesn't make the products sell, like 235 00:11:21,280 --> 00:11:23,400 Speaker 3: people buy that oy over something else because it's I 236 00:11:23,480 --> 00:11:25,920 Speaker 3: was eating. No, of course not. I don't care. We 237 00:11:26,040 --> 00:11:28,640 Speaker 3: got a lot of local support. People proud of it. 238 00:11:29,000 --> 00:11:30,520 Speaker 3: But in the end, at the end of the day, 239 00:11:30,600 --> 00:11:33,600 Speaker 3: people will buy the best product for the best price 240 00:11:33,679 --> 00:11:35,320 Speaker 3: as long as the service is all there. You've got 241 00:11:35,360 --> 00:11:37,679 Speaker 3: to have all that. You're there now we do that 242 00:11:37,880 --> 00:11:40,080 Speaker 3: and it's made here. Now, that's pretty cool. 243 00:11:40,400 --> 00:11:42,600 Speaker 2: You export a lot of products all around the world. 244 00:11:42,720 --> 00:11:44,800 Speaker 2: Where do you see the most demand coming from. 245 00:11:45,040 --> 00:11:47,080 Speaker 3: You know, if it wasn't very export, we wouldn't be 246 00:11:47,120 --> 00:11:49,440 Speaker 3: in business. That's why I went to the States, you know, 247 00:11:49,440 --> 00:11:52,199 Speaker 3: because I wanted to crack that. And you know, we're 248 00:11:52,440 --> 00:11:55,240 Speaker 3: service strong there. We've got our own team, have had 249 00:11:55,280 --> 00:11:58,439 Speaker 3: for twenty five years. They're actually it's just a warehouse 250 00:11:58,480 --> 00:12:01,679 Speaker 3: and sales and service, but it's a big team. And 251 00:12:01,720 --> 00:12:04,840 Speaker 3: then internationally all the other countries you could name one 252 00:12:04,880 --> 00:12:08,320 Speaker 3: hundred and seventeen that were super strong end and then 253 00:12:08,360 --> 00:12:11,560 Speaker 3: the smaller ones that's held by then we've got distributors. 254 00:12:11,840 --> 00:12:15,600 Speaker 3: But our growth sort of push now is into China, 255 00:12:15,640 --> 00:12:17,719 Speaker 3: which is still it's been good for us, but it's 256 00:12:17,760 --> 00:12:22,280 Speaker 3: really getting good. Malaysia. Indonesia, that's a really big area. 257 00:12:22,320 --> 00:12:25,920 Speaker 3: But India it's my target because and we're the free 258 00:12:25,960 --> 00:12:28,080 Speaker 3: trade agreement. I know it's taking a little bit of time. 259 00:12:28,080 --> 00:12:33,160 Speaker 3: But when out drops you can imagine now the broadcast requirement. 260 00:12:33,640 --> 00:12:37,839 Speaker 3: There how many podcasts and are road cast prose you 261 00:12:37,880 --> 00:12:40,040 Speaker 3: think are going to be sold In India people run 262 00:12:40,080 --> 00:12:42,800 Speaker 3: around with an iPhone and it's an outside broadcast camera 263 00:12:42,880 --> 00:12:45,720 Speaker 3: and well, okay, we make all that gear. And that's 264 00:12:45,760 --> 00:12:48,280 Speaker 3: one of the biggest markets in the world. I think 265 00:12:48,280 --> 00:12:50,400 Speaker 3: it could easily surpass the States for US. 266 00:12:51,200 --> 00:12:55,560 Speaker 2: Now this is a personal opinion, but I think your 267 00:12:55,640 --> 00:12:59,360 Speaker 2: products are really well designed. They're beautiful to look at 268 00:12:59,640 --> 00:13:02,600 Speaker 2: and very functional to use. Is the design of your 269 00:13:02,600 --> 00:13:04,720 Speaker 2: equipment as important as the function? 270 00:13:05,280 --> 00:13:07,920 Speaker 3: Yeah, of course, I mean being I'm involved with the 271 00:13:08,120 --> 00:13:12,760 Speaker 3: Australian Design a Good Design Awards and Council and design 272 00:13:12,880 --> 00:13:15,560 Speaker 3: is it's a broad term, isn't it. So something's got 273 00:13:15,559 --> 00:13:19,040 Speaker 3: to be fit for purpose. You're going to have innovative design, 274 00:13:19,120 --> 00:13:22,000 Speaker 3: something innovative and it's going to a nine headed teapot. 275 00:13:22,200 --> 00:13:25,000 Speaker 3: Well I don't want it, you know. So it's innovative. 276 00:13:25,160 --> 00:13:27,680 Speaker 3: So it's actually got to be something that actually gives 277 00:13:27,800 --> 00:13:31,079 Speaker 3: a benefit to someone, and then it does that really 278 00:13:31,120 --> 00:13:34,600 Speaker 3: really cleverly, makes it easy for people to use, and 279 00:13:34,600 --> 00:13:36,440 Speaker 3: then it's got to be beautiful to look at as well. 280 00:13:36,440 --> 00:13:39,960 Speaker 3: There's a lot of things there. Form, function, fit for purpose. 281 00:13:40,400 --> 00:13:43,480 Speaker 3: All these things come together and I think we're pretty 282 00:13:43,480 --> 00:13:46,920 Speaker 3: good at it. But I will always when I'm involved 283 00:13:46,920 --> 00:13:48,400 Speaker 3: with a company and the rest of the team does 284 00:13:48,400 --> 00:13:51,240 Speaker 3: as well. What's the first thing, as if we're making 285 00:13:51,240 --> 00:13:54,800 Speaker 3: a racing car, get the chassy right, the engine handles 286 00:13:54,800 --> 00:13:57,600 Speaker 3: the corners, you know it breaks, the engine's got the power, 287 00:13:57,640 --> 00:14:01,080 Speaker 3: and then we'll skin it in a really actually suit 288 00:14:02,120 --> 00:14:03,600 Speaker 3: or dress, whatever you want to call it. 289 00:14:03,960 --> 00:14:06,920 Speaker 2: I like that. In twenty sixteen you were awarded the 290 00:14:07,000 --> 00:14:09,599 Speaker 2: Order of Australia for services to export in philanthropy in 291 00:14:09,640 --> 00:14:12,400 Speaker 2: the arts. There are a lot of examples of your philanthropy. 292 00:14:12,480 --> 00:14:15,080 Speaker 2: You recently gave five million dollars to the Sydney Festival. 293 00:14:15,320 --> 00:14:18,760 Speaker 2: That's the largest ever donation in its history. Why did 294 00:14:18,800 --> 00:14:19,520 Speaker 2: you do that. 295 00:14:19,800 --> 00:14:23,880 Speaker 3: Well, I mean the company and myself personally been very 296 00:14:23,920 --> 00:14:28,160 Speaker 3: fortunate in the last few years and it's my responsibility, 297 00:14:28,160 --> 00:14:31,280 Speaker 3: in my opinion, to give back, put my money where 298 00:14:31,360 --> 00:14:35,640 Speaker 3: my mouth is. And the entertainers, musicians, the arts have 299 00:14:35,760 --> 00:14:39,440 Speaker 3: given my family everything we have and if I didn't 300 00:14:39,440 --> 00:14:42,400 Speaker 3: give back now, I'd be a pretty low human being. 301 00:14:42,440 --> 00:14:45,160 Speaker 3: I think I certainly don't need anything. So I'm going 302 00:14:45,200 --> 00:14:47,760 Speaker 3: to continue to support people who've supported me. 303 00:14:48,160 --> 00:14:50,320 Speaker 2: Can you tell me about the nine million dollar guitar 304 00:14:50,400 --> 00:14:52,200 Speaker 2: you bought. It's an incredible story. 305 00:14:52,440 --> 00:14:54,960 Speaker 3: Yeah, it's an interesting it's an interesting thing. A friend 306 00:14:54,960 --> 00:14:57,760 Speaker 3: of mine, his name's Darren Julian, owns a very big 307 00:14:57,880 --> 00:15:02,000 Speaker 3: number one Julian's Auctions, Beverly Hills. Never look it up, 308 00:15:02,040 --> 00:15:03,920 Speaker 3: by the way, because you will find something you want. 309 00:15:03,960 --> 00:15:08,640 Speaker 3: It's spectacled. It's amazing. Anyway, messages man says, we've got 310 00:15:08,720 --> 00:15:12,560 Speaker 3: Kurt Cobain's acoustic guitar from that unplugged gig coming up. 311 00:15:13,120 --> 00:15:15,280 Speaker 3: And it was like, oh, man, don't tell me that. 312 00:15:15,640 --> 00:15:19,120 Speaker 3: But it was perfect for something I've been planning to do, 313 00:15:19,200 --> 00:15:23,280 Speaker 3: and that's a foundation to help musicians, entertainers, the arts 314 00:15:23,320 --> 00:15:27,040 Speaker 3: around the world. Because this recent thing, of course, with COVID, 315 00:15:27,160 --> 00:15:32,720 Speaker 3: everything is shut down. There's no money, there's no wage support, 316 00:15:33,000 --> 00:15:36,960 Speaker 3: there's been no mental health support, nothing. People have been 317 00:15:37,000 --> 00:15:40,280 Speaker 3: looking for food handouts all over the world. Of course, 318 00:15:40,400 --> 00:15:43,280 Speaker 3: that's got to change. You just can't have it been 319 00:15:43,280 --> 00:15:46,240 Speaker 3: a job keeper savor that kind of stuff and in 320 00:15:46,280 --> 00:15:49,400 Speaker 3: other countries zero. So through this I was thought, okay, 321 00:15:49,440 --> 00:15:54,960 Speaker 3: I can highlight the struggle of people worldwide. In our industry. 322 00:15:55,000 --> 00:15:57,120 Speaker 3: We all love to go and see a show. Now 323 00:15:57,160 --> 00:15:59,920 Speaker 3: it's time to think about them when they're not gigging, 324 00:16:00,160 --> 00:16:03,160 Speaker 3: you know, when they are in trouble. And that's why 325 00:16:03,160 --> 00:16:05,800 Speaker 3: I bought it and I got It's actually scared me 326 00:16:05,800 --> 00:16:08,120 Speaker 3: of because I was living in the States twenty twenty, 327 00:16:08,320 --> 00:16:10,440 Speaker 3: that was there nearly all year. I got two and 328 00:16:10,480 --> 00:16:14,760 Speaker 3: half billion people at the minor estimate worldwide seeing it, 329 00:16:14,800 --> 00:16:19,080 Speaker 3: so me, the guitar, the whole story. I knew it 330 00:16:19,120 --> 00:16:21,840 Speaker 3: was going to be successful, but not that successful, and 331 00:16:21,880 --> 00:16:23,840 Speaker 3: it kind of freaked me out as well. But yeah, 332 00:16:24,120 --> 00:16:27,120 Speaker 3: the press was certainly spectacular. And from that it's a 333 00:16:27,200 --> 00:16:28,760 Speaker 3: vehicle for us to do some good. 334 00:16:28,920 --> 00:16:31,040 Speaker 2: Good on you for doing it. It's a terrific initiative. 335 00:16:31,920 --> 00:16:35,120 Speaker 2: So fifty years so far, Where to next? For road? 336 00:16:35,240 --> 00:16:37,320 Speaker 2: What will the next fifty years look like? 337 00:16:37,600 --> 00:16:41,440 Speaker 3: Well, I won't be here. It's funny that I would 338 00:16:41,520 --> 00:16:43,760 Speaker 3: hope it keeps going. But it is that ego, Yeah, 339 00:16:43,920 --> 00:16:46,400 Speaker 3: it probably is. You know, there's a great team here. 340 00:16:46,640 --> 00:16:50,560 Speaker 3: Everybody's very passionate. The ethos. I hope it's been instilled 341 00:16:50,840 --> 00:16:54,080 Speaker 3: so that you know, it's always never a plastic kind 342 00:16:54,120 --> 00:16:57,400 Speaker 3: of company where but we make things that people really 343 00:16:57,800 --> 00:17:00,960 Speaker 3: want get a benefit out of. We make things, as 344 00:17:01,000 --> 00:17:02,880 Speaker 3: I said, that we want to use. This place is 345 00:17:02,960 --> 00:17:06,600 Speaker 3: full of creative people, whether they are musicians or video 346 00:17:06,800 --> 00:17:11,040 Speaker 3: editors or filmmakers. So when we're talking about gear that 347 00:17:11,119 --> 00:17:13,280 Speaker 3: we might make their eyes light up and they come 348 00:17:13,359 --> 00:17:16,719 Speaker 3: with ideas because they want it. You know, if that continues, 349 00:17:16,760 --> 00:17:20,480 Speaker 3: their company will continue forever, whatever forever is. But you 350 00:17:20,640 --> 00:17:23,600 Speaker 3: have to keep that going. Hopefully that is there. But 351 00:17:23,760 --> 00:17:26,000 Speaker 3: you know, I can't control things from the grave, can I? 352 00:17:26,440 --> 00:17:28,720 Speaker 2: Peter, That's a good place to leave it. Peter Friedman, 353 00:17:28,760 --> 00:17:31,439 Speaker 2: thank you for talking to Fear and Greed. It's a pleasure. 354 00:17:31,480 --> 00:17:34,880 Speaker 2: Thank you. That was Peter Freeman, founder of Road Microphones.